Dewa aims AED 3.1b cash dividends for H1, 2022

Dewa aims AED 3.1b cash dividends for H1, 2022

Dubai Electricity and Water Authority PJSC (DEWA), the Emirate of Dubai’s exclusive electricity and water services provider, which is listed on the Dubai Financial Market (DFM), has announced that the company’s first general assembly meeting will be held physically and virtually on October 10.

The Assembly will vote on the recommendation of Board of Directors concerning a cash dividend distribution of AED 3.1 billion (AED 6.2 fils per share) for the first half of 2022. This is intended to be paid to the company’s eligible shareholders in October 2022.

The Assembly will also vote on the recommendation of the Board of Directors to suspend any allocation of profit towards legal reserve as the company’s legal reserve is currently in excess of 50%

of the share capital of the company.

Any shareholder who has the right to attend the General Assembly may delegate someone from other than the Board members or the staff of the company, or securities brokerage company, or its employees, to attend on his behalf as per a written delegation stating expressly that the agent has the right to attend the General Assembly and